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Published
Mar 28, 2019
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Paytm’s new funding could take valuation to $18 billion

Published
Mar 28, 2019

Paytm has launched its most recent funding round and is raising between $1.5 billion (Rs 9,979 crore) and $2 billion from its existing investors. This is expected to raise its valuation to $18 billion.


Paytm’s valuation could reach $18 billion after its current funding round - Paytm- Facebook


Sources told ET Bureau that Paytm’s parent company One97 Communications is likely to value its online payments service at between $16 billion and $18 billion following its current round of funding. The funding round is raising capital from existing investors SoftBank Vision Fund and Alibaba’s financial affiliate Ant Financial.

The sources also stated that Paytm may take funds from new investors during this round of funding. “While SoftBank and Ant Financial’s capital is already in, the company is engaging with other investors and may look to take the round to as much as $2 billion,” a source told ET Bureau. “But it is most likely to be an internal round.”

 The business was valued at $10 billion after an investment fo $300 million from Warren Buffett-led Berkshire Hathaway in 2018. The business was then valued at around $16 billion several months ago after a secondary round where investors sold on shares to other businesses, said one of the sources. 

Paytm is raising capital to help it fight against current competition in the growing digital payments market in India. Paytm has both local rivals such as Flipkart’s PhonePe and international rivals such as Amazon’s new online payments service. Paytm is currently a market leader and is raising funds to help it remain one. 

The businesses is currently focusing on new products such as Paytm Postpaid which allows customers to pay for items after purchasing them. Paytm also floated Paytm Money which is a platform for selling mutual funds. The businesses retail venture which sells fashion and electronics as well as lifestyle items is reportedly in talks with eBay for a possible investment. 

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